Thursday, May 22, 2008

Suntech Power beats numbers

Suntech, (STP 46.26) the world's largest solar producer beat numbers and gave good guidance and the stock will have a 5 handle today. It has flatlined for the past couple of months, so it was poised to move on the charts, and today we get the breakout.

Trina Solar (TSL 51.13) reports next week, but they were supposed to report this week. This delayed reporting happened with China Precision Steel (CPSL 6.57), which was supposed to report last Thursday, but then reported Friday. The stock did a double after earnings before pulling back.

So look at traders who are goosing these stocks. If the granddaddy, STP can beat numbers, how about TSL? And since another Chinese stock reported earnings that were exceptional that were delayed, maybe TSL has it's earnings in the bag also. They just need to let the stock run before they report like SOLF did!

At least that what the traders will think. You get a free pass on the stock for a few days!

Who's going to short these numbers before earnings? So the bulls have their ways with these stocks before they report!

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